The best and the brightest on Wall Street don't have a great track record when it comes to beating the S&P 500, but Research Affiliates Chairman Rob Arnott may have found an answer and has launched an alternate index to prove it.
In a report titled "Nixed: The Upside of Getting Dumped" that was co-authored with Forrest Henslee, he said stocks that get booted off indexes eventually outperform them while stocks that are added underperform.
